M&T Bank (NYSE:MTB) Price Target Raised to $207.00 at DA Davidson

M&T Bank (NYSE:MTB) had its price objective boosted by analysts at DA Davidson from $192.00 to $207.00 in a research note issued on Monday, Benzinga reports. The firm currently has a “neutral” rating on the financial services provider’s stock. DA Davidson’s price objective would indicate a potential upside of 6.64% from the stock’s current price. DA Davidson also issued estimates for M&T Bank’s FY2024 earnings at $14.48 EPS and FY2025 earnings at $16.36 EPS.

Several other equities research analysts also recently commented on the stock. Piper Sandler upped their price target on shares of M&T Bank from $164.00 to $190.00 and gave the company an “overweight” rating in a research report on Monday, July 22nd. Barclays increased their target price on M&T Bank from $170.00 to $228.00 and gave the company an “equal weight” rating in a report on Friday, October 18th. StockNews.com upgraded M&T Bank from a “sell” rating to a “hold” rating in a report on Friday, October 18th. The Goldman Sachs Group increased their price objective on M&T Bank from $190.00 to $216.00 and gave the stock a “neutral” rating in a research note on Friday, October 18th. Finally, Keefe, Bruyette & Woods lifted their target price on M&T Bank from $170.00 to $180.00 and gave the company a “market perform” rating in a research note on Friday, July 19th. One analyst has rated the stock with a sell rating, seven have given a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat.com, M&T Bank has a consensus rating of “Hold” and a consensus price target of $197.47.

M&T Bank Price Performance

NYSE MTB opened at $194.12 on Monday. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.44. M&T Bank has a 1 year low of $108.53 and a 1 year high of $200.94. The company has a market cap of $32.39 billion, a PE ratio of 13.13, a PEG ratio of 3.27 and a beta of 0.75. The stock’s 50-day moving average price is $174.28 and its two-hundred day moving average price is $159.70.

Insider Activity

In related news, Director Denis J. Salamone sold 10,000 shares of the company’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $172.03, for a total value of $1,720,300.00. Following the completion of the sale, the director now directly owns 44,902 shares in the company, valued at approximately $7,724,491.06. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In other news, Director Kirk W. Walters sold 7,464 shares of M&T Bank stock in a transaction that occurred on Friday, July 26th. The shares were sold at an average price of $173.97, for a total value of $1,298,512.08. Following the transaction, the director now owns 15,045 shares of the company’s stock, valued at $2,617,378.65. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Denis J. Salamone sold 10,000 shares of the company’s stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $172.03, for a total transaction of $1,720,300.00. Following the sale, the director now directly owns 44,902 shares of the company’s stock, valued at approximately $7,724,491.06. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 31,199 shares of company stock worth $4,856,869. 0.82% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of MTB. Fidelis Capital Partners LLC acquired a new stake in shares of M&T Bank in the first quarter valued at about $30,000. Hexagon Capital Partners LLC grew its holdings in M&T Bank by 54.4% in the 3rd quarter. Hexagon Capital Partners LLC now owns 193 shares of the financial services provider’s stock valued at $34,000 after buying an additional 68 shares during the last quarter. Oakworth Capital Inc. bought a new position in M&T Bank in the 2nd quarter worth approximately $35,000. nVerses Capital LLC acquired a new position in shares of M&T Bank during the third quarter worth approximately $53,000. Finally, Versant Capital Management Inc lifted its holdings in shares of M&T Bank by 82.7% during the second quarter. Versant Capital Management Inc now owns 444 shares of the financial services provider’s stock worth $67,000 after buying an additional 201 shares during the last quarter. Institutional investors and hedge funds own 84.68% of the company’s stock.

M&T Bank Company Profile

M&T Bank Corporation operates as a bank holding company for Manufacturers and Traders Trust Company and Wilmington Trust, National Association that engages in the provision of retail and commercial banking products and services in the United States. The company operates through three segments: Commercial Bank, Retail Bank, and Institutional Services and Wealth Management.